Please show your calculations. Thanks

a. Calculation of Activity Rate Activity Capacity Activity Rate Activity Costs . - . = Activity Machine setups Assembly Inspecting Packing products General factory admin. - Setups Machine hours No. of inspections Units produced Labor hours per setup per machine hour per inspection per unit per labor hour : = b. Calculation of total overhead allocated to Premier and Deluxe Premium Activity usage x rate Overhead Allocatied to Premium Deluxe Activity usage x rate Overhead Allocatied to Deluxe = = Activity Machine setups Assembly Inspecting Packaging products General factory admin. Total overhead allocated = = = c. Calculation of overhead per watch: Overhead No. of watches Premium: Deluxe: overhead per watch overhead per watch d. Unit cost of a watch: Premium Deluxe Direct materials Direct labor Overhead Total unit cost WorldTime Company produces two watches, Premium and Deluxe that sells for $123 and $108 respectively. In 2020 the company produced and sold 15,000 Premium and 10,000 Deluxe watches. Manufacturing overhead costs for 2020 was $900,000. Below are the direct costs of Premium and Deluxe. WorldTime would like to use Activity Based Costing to allocate its manufacturing overhead costs. Direct Manufacturing costs per watch Premium Deluxe Direct materials $600,000 $300,000 Direct labor $195,000 $120,000 The following information is for Activity Based Costing (ABC): Activity Activity Activity Use of Cost Driver Capacity Premium $240,000 Setups 1,500 setups 500 350,000 Machine hours 50,000 machine hours 30,000 20,000 tivity tivity luxe ichine setups ups sembly chine hrs. pecting fkaging products bduced story administration irs 300 insp 100,000 Inspections 400 inspections 60,000 Units produced 25,000 units produced 100 15,000 10,000 150,000 Labor hours 30,000 labor hours 18,000 12,000 $900,000 .. Selected account balances for the year ended December 31, 2020: Research and Development expense 120,000 Salaries payable........ 8,000 Depreciation of office equipment 30,000 Unearned Rent Revenue..... 4,000 Selling expense ..... .. 110,000 Prepaid advertising .... 6,000 Administrative expense 115,000 Short-term investments ...... 6,500 Restructuring costs ... 20,000 Interest expense 2,300 Dividend paid ...... 3,000 Accumulated depreciation, office equipment ..... 60,000 Common stock........ 125,000 Loss on sale of investments.... 2,500 Required: Required: a. c. Calculate the activity rate for each activity driver (round to two decimal points if necessary) b. Compute the total overhead allocated to Premier and Deluxe watch. Compute the per unit overhead for each watch d. Calculate the unit cost of each watch using Activity-Based Costing (round to two decimal points if necessary). Prepare WorldTime multiple-step income statement for the year ended December 31, 2020. e. Note: 1. All work must be done in Excel. 2. Use formulas for your calculations